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JPMorgan Chase Rejects Shareholder Breakup Proposal

JAN 25, 2013 5:20pm ET
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"The proposal would micromanage company management in terms of how they satisfy their duty to maximize profitability by placing too much emphasis on asset divestitures," Citigroup added.

A Bank of America spokesman declined to comment on the proposals while Morgan Stanley did not respond immediately to a request for comment.

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And so the worm turns. This one made my day: when the shareholders figure out that "the strategic value of having all these business units lumped into one holding company is not being perceived by the market" you have to laugh a bit. Finally, we have an "ethically neutral" argument for breaking up the beast that ate our wealth. It may turn out that some things really don't scale. The market does, however, perceive that even when you cut Mr. Dimon's salary in half, it is still just too much money for anyone's good.
Posted by teknoscribe | Thursday, February 07 2013 at 10:19PM ET
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